AGI
High-income taxpayers face two special taxes — a 3.8% net investment income tax (NIIT) and a 0.9% additional Medicare tax on wage and self-employment income. Here’s an overview of the…
Are you a charitably minded individual who is also taking distributions from a traditional IRA? You may want to consider the tax advantages of making a cash donation to an…
In some cases, homeowners decide to move to new residences, but keep their present homes and rent them out. If you’re thinking of doing this, you’re probably aware of the…
With the start of the new year, most people are reflecting on the past and making resolutions – while not necessarily thinking about filing taxes, April 15th is coming soon!…
You may be able to deduct some of your medical expense, including prescription drugs, on your federal tax return. However, the rules make it hard for many people to qualify.…
Contributing to a tax-advantaged retirement plan can help you reduce taxes and save for retirement. If your employer offers a 401(k) or Roth 401(k) plan, contributing to it is a…
Feeling charitable? Now’s the time to give In an economic downturn, charitable donations typically decline. So, if you’re in a position to donate, charitable organizations need your help now more…
Nearly everyone has heard about the Economic Impact Payments (EIP) that the federal government is sending to help mitigate the effects of the coronavirus (COVID-19) pandemic. The IRS reports that…
Millions of eligible Americans have already received their Economic Impact Payments (EIP) via direct deposit or paper checks, according to the IRS. Others are still waiting. The payments are part…